|
on Innovation |
| By: | Elena Cefis; Orietta Marsili |
| Abstract: | High-potential new ventures are a source of economic growth, which policy makers call upon in times of crisis when entrepreneurship is seen as a remedy to economic downturn. Yet at these times new ventures face intensified selection, and survival hinges on heterogeneous capabilities. We examine how the innovative capabilities of new firms created in the Netherlands in 2001-2006, affected their survival likelihood before, during and after the 2007-2008 global financial crisis. We estimate a piecewise exponential model linking survival times, observed in the time period from 2001 to 2015, to longitudinal innovation data from the CIS. Our results show that new ventures innovating within two years from founding benefit of a long-term adaptive survival premium during and after the crisis. This premium and its duration over the stages of the crisis are contingent to the form of innovation: technological innovations entail a more effective and enduring premium, as compared to managerial innovations, which can be even detrimental for survival. Our study has implications for entrepreneurial management, by highlighting how the development of innovative capabilities at founding, lays the foundations for organisational adaptation and resilience in the longer term. Furthermore, our results can inform a policy approach that aims at sheltering from the storm of a financial crisis, those new ventures that do possess the specific and necessary adaptive capabilities, but that are also vulnerable because of the liabilities of newness and smallness. Such an approach could help to maintain alive the process of entrepreneurial experimentation during the crisis, and to boost economic recovery, without dispersing precious resources. |
| Keywords: | firm survival; environmental jolts; financial crisis; organisational adaptation; technological and non-technological innovation |
| Date: | 2018–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2018/02&r=ino |
| By: | Suzuki, Keishun |
| Abstract: | How does patent policy affect innovation when patent licensing is crucial for firms? To address this question, the present paper incorporates voluntary patent licensing between an innovator and followers, which has been discussed in the literature of industrial organization, into a dynamic general equilibrium model. Unlike in existing studies, both the licensing fee and the number of licensees are endogenously determined by the innovator’s maximization and the free-entry condition. Using this model, we show that strong patent protection does not enhance innovation, economic growth, and welfare. Furthermore, the extended analysis provides a policy implication that the effect of patent policy depends on how difficult further innovation is without patent licensing of the current leading technology. |
| Keywords: | innovation, patent protection, optimal patent licensing, endogenous market structure. |
| JEL: | L24 O31 O34 |
| Date: | 2017–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:82712&r=ino |
| By: | Naudé, Wim (Maastricht University); Nagler, Paula (Erasmus University Rotterdam) |
| Abstract: | Technological innovation has historically contributed to inclusive economic growth in Germany. In more recent decades, however, this contribution has weakened due to the declining impact of technological innovation on labor productivity growth. Fearing that this declining impact would undermine the international competitiveness of the economy, real labor compensation was progressively curbed since the mid-1990s. This occurred inter alia through the government's erosion of the social welfare state, as well as through offshoring and reduced fixed capital investment of the corporate sector. The outcome was rising income and wealth inequalities. Between the mid-1990s and 2010 the rise in wage inequality was faster in Germany than in the United States, the United Kingdom, and Canada. To restore inclusive growth, two broad policy measures are recommended: first, to have appropriate compensatory social welfare policies in place; and second, to improve the effectiveness of technological innovation to raise labor productivity. This paper identifies three reasons why technological innovation has become less and less effective:(i) historical legacies, (ii) weaknesses in the education system, and (iii) entrepreneurial stagnation. Improving the impact of technological innovations on labor productivity growth will require a more diversified education system, a deepening of active labor market policies, better immigration policies, and a greater contestability of markets. Ensuring these recommendations in a coordinated fashion suggests the need for an appropriate industrial-innovation policy. |
| Keywords: | entrepreneurship, Germany, inequality, innovation, social protection, technology |
| JEL: | D31 L26 O33 O38 O52 |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11194&r=ino |
| By: | Patricia Laurens (LISIS - Laboratoire Interdisciplinaire Sciences, Innovations, Société - INRA - Institut National de la Recherche Agronomique - UPEM - Université Paris-Est Marne-la-Vallée - ESIEE Paris - CNRS - Centre National de la Recherche Scientifique); Lionel Villard (ESIEE Management - ESIEE Management); Antoine Schoen (Technique Innovation et Organisation (TIO) - LATTS - Laboratoire Techniques, Territoires et Sociétés - UPEM - Université Paris-Est Marne-la-Vallée - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique); Philippe Larédo (Technique Innovation et Organisation (TIO) - LATTS - Laboratoire Techniques, Territoires et Sociétés - UPEM - Université Paris-Est Marne-la-Vallée - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper proposes to broaden by more than 10%-compared with the current practice-the set of applications for priority patents, which is used to compute worldwide patent indicators. This extension is made possible thanks to the inclusion in the corpus of documents used for the calculation of indicators of the first filing patent applications that are designated as " artificial priority patents " in the PATSTAT database and currently discarded for the production of indicators. This research aims to show how adding these " artificial " patent applications can modify the value of the worldwide patent indicators. Artificial patent applications have never been used before because they contain very scarce information in their original state. We present a methodology we have developed to, first, replenish the artificial patents with information retrieved from close patents belonging to the same INPADOC family. Then, we study in details a range of indicators characterising the trends in the internationalisation of corporate R&D inventive activities. We provide evidence that the internationalisation pattern can be modified when including replenished artificial corporate patents in the indicator calculation. At the world level, incorporating artificial priority patents does not affect the trends over time, nor introduce any significant changes in the values of the indicators. However, analyses performed at a smaller scale, such as the firms' continent level or the firms' sector, show significant changes of the level of the intercontinental internationalisation in particular for the US firms. |
| Keywords: | R&D,technology,patents,internationalisation,indicators |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01671905&r=ino |
| By: | Michael Fritsch (FSU Jena); Michael Wyrwich (FSU Jena) |
| Abstract: | We investigate the role of entrepreneurship culture and the historical knowledge base of a region on current levels of new business formation in innovative industries. The analysis is for German regions and covers the time period 1907-2014. We find a pronounced positive relationship between high levels of historical self-employment in science-based industries and new business formation in innovative industries today. This long-term legacy effect of entrepreneurial tradition indicates the prevalence of a regional culture of entrepreneurship. Moreover, local presence and geographic proximity to a technical university founded before the year 1900 is positively related to the level of innovative start-ups more than a century later. The results show that a considerable part of the knowledge that constitutes an important source of entrepreneurial opportunities is deeply rooted in history. We draw conclusions for policy and for further research. |
| Keywords: | Innovative start-ups, universities, regional knowledge, regional cultures of entrepreneurship |
| JEL: | L26 L60 L80 O18 R12 R30 |
| Date: | 2018–01–08 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2018-001&r=ino |
| By: | Anaëlle Camarda (LaPsyDE - UMR 8240 - Laboratoire de psychologie du développement et de l'éducation de l'enfant - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UPD5 - Université Paris Descartes - Paris 5 - CNRS - Centre National de la Recherche Scientifique); Hicham Ezzat (MINES ParisTech - École nationale supérieure des mines de Paris); Mathieu Cassotti (LaPsyDE - UMR 8240 - Laboratoire de psychologie du développement et de l'éducation de l'enfant - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UPD5 - Université Paris Descartes - Paris 5 - CNRS - Centre National de la Recherche Scientifique); Marine Agogué (HEC Montréal - HEC Montréal); Benoit Weil (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Pascal Le Masson (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | There are today large expectations towards creative thinking and innovation in both educational and industrial contexts. Creativity defined as the ability to think of something truly new (i.e., original, unexpected), and appropriate (i.e., useful, adaptive concerning task constraints) is considered as a crucial skill required in numerous organizations and is largely viewed as fundamental process for any innovation. Nevertheless, generating, evaluating and developing new ideas might not be as easy as it seems, and individuals often failed to propose creative solutions to a specific problem, focusing on a narrow scope of existing solutions. Decades of cognitive psychology studies has demonstrated that previously acquired and existing knowledge or ideas can limit creative ideation, leading a phenomena named " mental fixation " or " fixation effect ". Experimental studies with students converged in showing that the fixation effect is reinforced when adults are exposed to uncreative examples of solutions before being asked to generate new ideas. Although, considerable efforts have been devoted at identifying the negative influence of examples on creative ideas generation in experiments made on thousands of engineers' students, as well as novices from different disciplines, surprisingly there are to date few study that have examined whether examples may constrain (or facilitate) creative ideation in expert engineers or designers. Therefore, the present study aimed to clarify the potential role of expertise in creative idea generation. In this study, 64 expert engineers from a prestigious French Aerospatiale multinational were asked to design solutions to ensure that a hen's egg dropped from a height of ten meters does not break (the egg task). The participants were randomly assigned to one of two experimental conditions (a control condition without an example or a test condition with an uncreative example) and were given ten minutes to solve the egg task. The problems were identical across conditions, except that the group with an example read the following: " One solution classically given is to slow the fall with a parachute ". Our results show that expert engineers were able to overcome design fixation, and interestingly they provided more solutions within the expansion path and fewer solution within the fixation path when they were given an uncreative example. As such, our results expand the understandings of the critical characteristics of expertise for overcoming cognitive biases to creativity, and give new sights to managerial implications for the role of creative leaders in this concern, more specifically when managing innovative processes with team members having varying levels of expertise. |
| Keywords: | creativity, ideation, design fixation, expertise, leadership |
| Date: | 2017–06–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01626164&r=ino |
| By: | Iris Wanzenböck; Koen Frenken |
| Abstract: | While innovation policy started as national policy, we witness a proliferation both at the sub-national and the supra-national level. This begs the question about subsidiarity: what policies should be organized at sub-national, national and supra-national levels? We argue that innovation policies aimed to solve societal challenges such as climate change or ageing - currently central in EU policies - are better organized at sub-national levels given the contested nature of problem identification and the contextual nature of problem-solving. Regional innovation policy, then, should formulate concrete societal goals relevant to the local community and tailored to the local context. |
| Keywords: | innovation policy, societal challenges, subsidiarity, regional policy, multi-level governance |
| JEL: | B52 D78 O38 R5 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1806&r=ino |
| By: | Clément Bonnet |
| Abstract: | We estimate an index that measures the quality of the patented inventions related to Low Carbon Energy Technologies (LCETs) and delivered in seven countries during 1980-2010. This quality index is built using a Latent Factor Model (LFM) that synthesizes the information contained in patent documents. We capture a unique measure of patents quality, defined here as the economic value that is imputable to the technological advance resulting from the patented invention. A robust measure of the inventive performance of each country in the LCETs is obtained using the quality index. Several insights are derived from this measure about the technical advantages of countries and the dynamics of technologies' quality. |
| Keywords: | Patent data, Energy technologies, Latent factor model, Low carbon innovation |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:cec:wpaper:1709&r=ino |
| By: | Mafini Dosso (European Commission - JRC); Lesley Potters (European Commission - JRC); Alexander Tuebke (European Commission - JRC) |
| Abstract: | * Firms organise innovation activities across a wider range of geographically dispersed and specialized units, as compared to previous decades. Moreover corporate innovation processes are broken up into ever finer stages and tasks at the global scale. * The global dispersion of R&D and innovation activities occurs at a higher pace and goes hand in hand with a stronger regional polarization. Yet, corporate R&D remains a domestic activity, although functional and industry-specific patterns can be observed. * The increased internationalisation of R&D and innovation activities does not imply the hollowing-out of domestic ones. Foreign innovation activities may actually support domestic increases in innovation. * The internal and external connections of national and regional systems matter for their innovation performance. The quality of the regional learning and innovation systems is important to attract "relevant activities or segments" of the GVC. On the other hand, better connecting regions to the global innovation networks is important for local growth and employment. * The extent to which firms co-locate production and innovation activities depends on industry, product and process-specificities. * Evidence is needed on how R&D and innovation activities are sliced and diced across GVCs, on how these global corporate dynamics interact with national and regional innovation systems and on how they impact on local growth and employment. |
| Keywords: | R&D, Innovation Policy, Industrial Policy, Innovation. |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc107930&r=ino |
| By: | Beck, Mathias (ETH Zurich); Junge, Martin; Kaiser, Ulrich (University of Zurich) |
| Abstract: | We review and condense the body of literature on the economic returns of public R&D on private R&D and find that: (i) private returns to R&D appear to be large and larger than the returns to alternative investments; (ii) private R&D and R&D subsidies are positively correlated and there is no evidence for crowding out; (iii) R&D cooperation increases private R&D; (iv) there appear to exist complementarities between alternative sources of funding; (v) the mobility of R&D workers, particularly of university scientists, is positively related to innovation; (vi) there are many university spin-offs but these are no more successful than non-university spin-offs; (vii) universities constitute important collaboration partners and (viii) clusters enhance collaboration, patents and productivity. Key problems for economic policy advice are that the identification of causal effects is problematic in most studies and that little is known about the optimal design of policy measures. |
| Keywords: | R&D subsidies, R&D tax credits, cooperation, labor mobility, returns to R&D, university spin-offs, R&D clusters, public-private knowledge transfer |
| JEL: | C54 J6 I28 O3 L52 |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11196&r=ino |
| By: | Michael Fritsch (FSU Jena); Mirko Titze (Halle Institute for Economic Research (IWH), Germany); Matthias Piontek (Friedrich Schiller University Jena, Germany) |
| Abstract: | The value of social network analysis is critically dependent on the comprehensive and reliable identification of actors and their relationships. We compare regional knowledge networks based on different types of data sources, namely, co-patents, co-publications, and publicly subsidized collaborative R&D projects. Moreover, by combining these three data sources, we construct a multilayer network that provides a comprehensive picture of intraregional interactions. By comparing the networks based on the data sources, we address the problems of coverage and selection bias. We observe that using only one data source leads to a severe underestimation of regional knowledge interactions, especially those of private sector firms and independent researchers. The key role of universities that connect many regional actors is identified in all three types of data. |
| Keywords: | Knowledge interactions, social network analysis, regional innovation systems, data sources |
| JEL: | O30 R12 R30 |
| Date: | 2018–01–08 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2018-003&r=ino |
| By: | Petros Gkotsis (European Commission - JRC); Hector Hernandez (European Commission - JRC); Antonio Vezzani (European Commission - JRC) |
| Abstract: | This note describes a methodology to estimate territorial business R&D expenditure funded by the business sector, using R&D and patent data from top R&D investing companies. Since company data are available with a short delay, the aim is to provide timeliness estimations for business R&D in anticipation of its publication by official statistics. The estimation is made for worldwide industrial R&D expenditures, breaking down figures for main world regions and focusing on the EU and its top member states. The industrial coverage comprises main innovative industries, focusing on manufacturing and knowledge intensive services. |
| Keywords: | industrial R&D, innovation, BERD, estimation |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc109031&r=ino |
| By: | Roberto Censolo; Caterina Colombo |
| Abstract: | In this paper we investigate the co-movements between the R&D share of total investment and GDP growth in different EU areas over the period 1999-2014. Our empirical analysis shows that only core countries display a common counter-cyclical mechanism leading to an increased share of R&D over prolonged downturns. The lack of any counter-cyclical pattern of R&D share over the evolution of GDP growth in periphery countries makes this area highly vulnerable to persistent recessions, with potentially harmful consequences for longer term growth. For recent EU members the evidence of R&D share pro-cyclicality should be evaluated in the light of the catching-up process still at work in this area. Our analysis suggests that any successful EU innovation policy should not disregard the potential divergence in R&D performance due to the dispersion of the counter-cyclical properties of the share of productivity enhancing activities in the different EU areas. |
| Keywords: | R&D investment; cyclicality; European Union; economic crisis |
| JEL: | O52 O30 E32 |
| Date: | 2017–12–27 |
| URL: | http://d.repec.org/n?u=RePEc:udf:wpaper:2017096&r=ino |
| By: | Ilya Kuzminov (National Research University Higher School of Economics); Dirk Meissner (National Research University Higher School of Economics); Alina Lavrynenko (National Research University Higher School of Economics); Elena Tochilina (National Research University Higher School of Economics) |
| Abstract: | The paper analyses problems associated with technologies classification for the purposes of futures studies, in order to ensure definitive inclusion of technologies in specific classes/types when conventional approaches to classification are applied. The evolution of classification approaches in the scope of science philosophy is shortly reviewed, together with the latest research on expert-based and computerised (algorithmic) classification and methodological dilemmas related to hierarchical aggregation of technological and production processes are analysed. Common problems with classifying technologies and industries frequently encountered in the age of converging technologies are examined, using the agricultural sector and related industries as an example. A case study of computerised classification of agricultural technologies based on clustering algorithms is presented, with a brief analysis of the potential and limitations of the methodology. For doing so a two-stage approach to classifying technologies is suggested, based on distinguishing between platform (multipurpose) and industry-specific technologies. An adaptive approach to analysing technological structures is proposed, based on many-to-many relationships and fuzzy logic principles. |
| Keywords: | classification, typology, futures studies, science and technology development, technological structure, industry structure, text mining, tagging, network structures, fuzzy logic |
| JEL: | O14 O32 O33 Q16 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:78sti2018&r=ino |
| By: | Maxime Thomas (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Pascal Le Masson (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Benoit Weil (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In this paper we propose to analyze two cases of business model innovation process Uber and a French health care company-with the models developed by design theory. In particular we demonstrate, relying on C-K theory, how the traditionally unchallenged figure of a lone firm performing business model innovation has implications on the outcomes of the process, preventing innovative business models to emerge. In particular we show that the coordination structure chosen by the firms engaging in business model innovation has major consequences. Therefore we propose a categorization of business model innovation process based on the level of implication of each firm. We argue that a more collaborative approach in designing business models that overcomes the difficulties raised by collective design is needed so that the outcomes are innovative. We discuss the implications of this result for business model innovation literature, disruptive innovation theory and design theory. Introduction In this paper, we propose, using recent advances in design theory, to discuss the innovative power of business model innovation. We thus propose analysing two business model innovation processes: the case of Uber business model and an ongoing business model innovation project in a French Health care company. The first case is famous among practitioners as it is used as an example of current disruptions occurring in several industries. The second project is an example of such a process in an incumbent company. Although the study of business models (Amit and Zott, 2001) and in particular business model innovation (Chesbrough, 2010) opens new fields for the innovation literature, the literature seems to focus on the model of a focal firm performing alone a business model innovation process (Amit and Zott, |
| Keywords: | Business Model Innovation,Design |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01499143&r=ino |
| By: | Julien Ambrosino (ESTIA Recherche - Ecole Supérieure des Technologies Industrielles Avancées (ESTIA), IMS - Laboratoire de l'intégration, du matériau au système - Université Sciences et Technologies - Bordeaux 1 - Institut Polytechnique de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Dimitri Masson (ESTIA Recherche - Ecole Supérieure des Technologies Industrielles Avancées (ESTIA)); Abi Akle (ESTIA Recherche - Ecole Supérieure des Technologies Industrielles Avancées (ESTIA)); Jérémy Legardeur (IMS - Laboratoire de l'intégration, du matériau au système - Université Sciences et Technologies - Bordeaux 1 - Institut Polytechnique de Bordeaux - CNRS - Centre National de la Recherche Scientifique, ESTIA Recherche - Ecole Supérieure des Technologies Industrielles Avancées (ESTIA)) |
| Abstract: | In the context of the emergence of collaborative innovation projects between competitiveness clusters, the animation of creative sessions permits to identify new opportunities. The number of ideas generated is a lot more important than the number of collaborative innovation projects implemented subsequently. To improve this ratio, we verify that group discussions could be facilitated by improving the ideation and evaluation phases of ideas during innovation process. Especially, in this article, we test many hypotheses in order to show that divergence of opinions can foster collaborative project emergence. |
| Abstract: | Dans le contexte de l'émergence de projets d'innovation collaborative entre les clusters et les pôles de compétitivité, l'animation d'ateliers de créativité permet d'identifier de nouvelles opportunités. Le nombre d'idées générées est beaucoup plus important que le nombre de projets d'innovation collaborative mis en œuvre par la suite. Pour améliorer ce ratio, nous vérifions que les discussions de groupe pourraient être facilitées en améliorant les phases d'idées et d'évaluation des idées au cours du processus d'innovation. Surtout, dans cet article, nous testons de nombreuses hypothèses afin de montrer que la divergence d'opinions peut favoriser l'émergence d'un projet collaboratif. |
| Keywords: | Cluster,Collaborative design,Creativity,Evaluation,Innovation |
| Date: | 2017–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01577761&r=ino |
| By: | Matthew Fuller (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique); Albert David (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | As large firms pursue their quest to support NPD and fuzzy front-end activities within their organizations, some have recently opted to create “corporate Fab Labs”. These spaces, which regroup an innovation-oriented community and provide any employee with a physical setting and open access to digital fabrication tools are also the birthplace of objects. A lingering and recurring question among practitioners and decision makers is: what do these objects represent? In terms of innovation, are they something, or nothing?This paper is an initial response to these reactions and develops a theoretical and empirical study of objects made in corporate Fab Labs. Building upon empirical data collected from a series of photos, we contribute a rudimentary tool for identifying the maturity of corporate Fab Labs as their objects cross three organizational knowledge boundaries: syntax, semantic, and pragmatic. |
| Keywords: | Organisational boundaries,corporate Fab Labs,open innovation |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01629696&r=ino |
| By: | Antoine Thuillier (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique); Matthew Fuller (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique); Albert David (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Startup companies face many challenges in the early years of their existence. During these critical stages, they are often required to convince decision makers to allocate critical resources to themto obtain venture capital, support from a startup incubator, orgovernment subsidies |
| Keywords: | startups,design theory,conceptual architecture,pitch presentation,new product development,creativity |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01629693&r=ino |
| By: | Cragun, Randy; Tamura, Robert; Jerzmanowski, Michal |
| Abstract: | We propose a new macroeconomic mechanism for generating patterns in age-earnings profiles based on directed technical change. The mechanism does not depend on changes in the human capital of the individual; rather differences in the human capital shares of age groups affect the profitability of developing age-specific technologies, biasing innovation toward improving the productivity of workers whose cohorts provide large shares of the labor force's human capital. The theory should be taken as supplemental to (rather than replacing) human-capital-based theories of age-earnings profiles. Using recently developed data and human capital estimates, we simulate reductions in wages due to age-biased directed technical change over workers' lives for most of the world's nations over two centuries. Our simulations indicate that age-specific directed technical change contributes to wage concavity for the average country by cohort group. Because younger workers make up a larger share of human capital in most years and countries, most cohorts in most countries experienced wage gains early in life and losses later in life from age-specific directed technology, making life-cycle earnings profiles flatter. The late-life losses are larger than the early-life gains, increasing concavity in life-cycle earnings profiles. We also calculate the present value of lifetime wage gains from age-specific endogenous technology, and find particularly large and economically-significant gains for baby boomers and losses for cohorts born during low population growth periods. |
| Keywords: | Directed technical change, directed technology, human capital, experience, wage profile, wage differential, age-earnings profile, endogenous technology |
| JEL: | J11 J24 J31 O31 O33 O4 |
| Date: | 2017–11–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81830&r=ino |
| By: | Josh Lerner; Amit Seru |
| Abstract: | Patents and citations are powerful tools for understanding innovative activity inside the firm, and are increasingly use in corporate finance research. But due to the complexities of patent data collection and the changing spatial and industry composition of innovative firms, biases may be introduced. We highlight several patent-level biases induced by truncation of reported patent awards and citations, affecting estimates of time trends and patterns across technology classes and regions. We then introduce measures of patent and citation biases. When aggregated at the firm level, these survive popular methods of adjustment and are correlated with firm-level characteristics. We show that these issues can lead to problematic – and ex ante predictable – inferences, using several examples from prominent streams of finance literature that use patent data. We suggest a number of concrete steps that researchers can employ to avoid biased inferences. |
| JEL: | G30 O34 |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24053&r=ino |
| By: | Faridah Djellal (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille, Sciences et Technologies - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique); Faïz Gallouj (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille, Sciences et Technologies - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01672570&r=ino |
| By: | Faridah Djellal (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille, Sciences et Technologies - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique); Faïz Gallouj (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille, Sciences et Technologies - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01672567&r=ino |